BTRS (NASDAQ:BTRS) Rating Lowered to Hold at Zacks Investment Research

BTRS (NASDAQ:BTRS) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Monday, Zacks.com reports.

According to Zacks, “BTRS Holdings Inc. is a provider of cloud-based software and integrated payment processing solutions which simplify and automate B2B commerce. BTRS Holdings Inc., formerly known as South Mountain Merger Corp., is based in NEW YORK. “

Several other equities research analysts have also issued reports on the stock. Bank of America started coverage on shares of BTRS in a report on Tuesday, August 24th. They issued a “buy” rating and a $13.00 target price for the company. KeyCorp lowered their target price on shares of BTRS from $18.00 to $16.00 and set an “overweight” rating for the company in a report on Thursday, August 12th. Finally, Canaccord Genuity decreased their price objective on shares of BTRS from $22.00 to $17.00 and set a “buy” rating for the company in a report on Thursday, August 12th. They noted that the move was a valuation call. Two equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $17.38.

BTRS opened at $10.53 on Monday. The stock has a market capitalization of $1.67 billion, a price-to-earnings ratio of -15.49 and a beta of 0.30. The company has a fifty day moving average of $11.43 and a 200 day moving average of $13.47. BTRS has a fifty-two week low of $9.83 and a fifty-two week high of $19.76.

BTRS (NASDAQ:BTRS) last issued its quarterly earnings data on Tuesday, August 10th. The company reported ($0.07) EPS for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.01. The business had revenue of $31.59 million during the quarter, compared to analysts’ expectations of $30.47 million. On average, analysts anticipate that BTRS will post -0.32 earnings per share for the current year.

In other BTRS news, CEO Flint A. Lane acquired 74,576 shares of the company’s stock in a transaction dated Monday, September 13th. The shares were acquired at an average cost of $10.14 per share, with a total value of $756,200.64. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Mark L. Shifke acquired 28,435 shares of the company’s stock in a transaction dated Monday, September 13th. The stock was acquired at an average cost of $10.13 per share, for a total transaction of $288,046.55. Following the completion of the acquisition, the chief financial officer now directly owns 190,809 shares in the company, valued at $1,932,895.17. The disclosure for this purchase can be found here. In the last ninety days, insiders bought 150,949 shares of company stock worth $1,550,472 and sold 3,715,944 shares worth $43,584,792.

Large investors have recently bought and sold shares of the business. Point72 Asset Management L.P. purchased a new stake in shares of BTRS during the first quarter worth $3,372,000. Rockefeller Capital Management L.P. purchased a new stake in shares of BTRS in the first quarter valued at about $397,000. Schonfeld Strategic Advisors LLC purchased a new stake in shares of BTRS in the first quarter valued at about $12,099,000. Artisan Partners Limited Partnership purchased a new stake in shares of BTRS in the first quarter valued at about $23,904,000. Finally, Quantitative Systematic Strategies LLC purchased a new stake in shares of BTRS in the first quarter valued at about $315,000. Institutional investors own 59.76% of the company’s stock.

BTRS Company Profile

BTRS Holdings Inc provides cloud-based software and integrated payment processing solutions that simplify and automate B2B commerce. It offers solutions that span credit decisioning and monitoring, online ordering, invoicing, cash application, and collections. These solutions integrate with various ecosystem players, including financial institutions, enterprise resource planning systems, and accounts payable software platforms, to help customers to transition from paper invoicing and check acceptance to electronic billing and payments.

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